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20130103
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CNBC 5
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CNBC
Dec 27, 2012 7:00pm EST
harry reid's comments sent the dow into a tailspin. we have complete coverage in this developing story which is happening tonight as we speak. also, as supplies from the obama team, ep achieve lisa jackson stepping down. can the coal companies finally breathe a sigh of relief? guess what happened in britain when the uk banned handguns. the surprising result that could change the gun control debate. "the kudlow report" start ises right now. >>> the big news tonight, still the developments in washington on the fiscal cliff, eamon javers joins us with the details. >> good evening, meshel. capitol hill sources tell cnbc that congressional leaders are planning to go to the white house tomorrow to meet with president barack obama and it is not entirely clear at this point when that meeting will take place and details are still being hammered out and we saw today a blistering series of rhetorical jabs from one side to the other and it's not clear as a result of all that whether a deal can, in fact, get hammered out in the remaining time before new year's eve and take a listen to senate republ
CNBC
Dec 28, 2012 7:00pm EST
there was earlier in the day. mitch mcconnell and harry reid say they're going to come out and try to hammer out a bipartisan deal that can pass the senate with enough republican votes to convince the house to act and even president obama who had been concerned that they were not going to act and challenging them for an up and down vote said he was optimistic. here's the president after that meeting. >> i just had a good and constructive discussion at the white house with senate and house leadership about how to prevent this tax hike on the middle class and i'm optimistic we may still be able to reach an agreement that can pass both houses in time. >> now what would be in that mini deal? we're talking about tax increases for people at near the top of the income scale. the question is the threshold, 400 or $500,000 are the likely places that that could end up. it would likely turn off the automatic sequester by using some of the revenue from the tax increases to account as budget cuts and turn off they is quester and it would also extend unemployment benefits and do the so-called doc fix to preve
CNBC
Dec 31, 2012 7:00pm EST
connell and harry reid. clearly the personal animosity got to be too much for those two to continue negotiating. clearly the president was happy with biden being a part of this final push here. if the reports are right, he is coming up to sell the deal to him. a lot of whom have expressed reservations about him. >> now, let's get reaction from the senate side. senator tom coburn as always sir, if we are going to throw over the see quester, i get that, but the thing that bothers me the most. if we are going to substitute tax revenues instead, i think that leads us down the wrong road. i agree. look, cutting $1.2 trillion over the next ten years was hard one to battle hard for the country to go through. what is being proposed now is $600 billion in tax increased with about a fifth of it to be spent to buy down things. with $480 billion to decrease the deficit. we had our choice we wouldn't be doing it that way. the government is too big and in effective we could take most of the money by decreasing spending. the 11th hour and there are a lot of people who shouldn't be having tax increases if we d
CNBC
Dec 26, 2012 7:00pm EST
sent a letter to the honorable harry reid majority leader. and that's where he outline it is fact that in three business days, the summit government is going to run out of borrowing capacity. john, if there were a treasurer in a business who went to their boss and said by the way, three business days, the working capital account dies and as a result, you are not going to make payroll next week, that person would be fired. we get three days notice about hitting the debt ceiling? that seems absurd to me. >> it is not a surprise.rise we have known we were coming to this point and there are two months more -- geithner estimated in that letter that the ways in which the federal government can manage money will give about would months worth of head room, possibly even longer. february or march or -- where we really get to the -- rubber hits the road on that issue. so -- this is not a shock to anybody in government but the publication of this letter and the elevation of the issues in attempt was done in 2011. there was an early moatfication by treasury this was about to happen, trying to
CNBC
Jan 2, 2013 7:00pm EST
and the senate to show us your plan. hey, harry reid, how about passing budgets for the first time in three years. how about being willing to be held accountable for a change. >> these are all great fiscally prudent managerial notions as a former businessman, i expect nothing less, but senator johnson, you know you're not going to get all that. and i guess my question is will republicans in the senate hold up a debt ceiling unless and until let's say they get a spending sequester or substitute or something that you can get your arms around. >> well, certainly what i'm going to be pushing for, larry -- one of the things i've been pointing out is we've had this revisionist history that said the last debate resulted in a debt downgrade because of the messy debate. that's not what caused the debt downgrade. what caused that debt downgrade is the fact that the debate did not result in a solution to the problem. when president obama unbelievably said we're not even going to have a debate this time. oh yes, we are, mr. president. because every time you come to congress and you ask for the authority to i
Search Results 0 to 4 of about 5